South Africa: Inflation moderates in October
November 22, 2017
In October, consumer prices increased 0.3% month-on-month, coming in below the 0.5% rise observed in September. October’s print reflects an increase in almost all components of the index, including transport, communication, and food and non-alcoholic beverages.
Inflation declined from 5.1% in September to 4.8% in October, remaining within the Central Bank’s target range of 3.0%–6.0%, where it has been since April 2017. Annual average inflation edged down from 5.7% in September to 5.6% in October.
Core consumer prices—which exclude food, non-alcoholic beverages, energy and gasoline—rose 0.1% in October, coming in below from the 0.4% increase observed in September. Lastly, core inflation in October inched down from 4.6% in September to 4.5% in October.